Van der Moolen pulls out of New York

Stockbrokers Van der Moolen is to ditch its loss-making specialist activities in New York and will also give up its NYSE listing, the company said on Thursday.

‘VDM Specialists USA has not succeeded in bringing its operations back to profitability and will not be able to meet its second half year US target. Therefore, we have decided to terminate the VDM US specialist activity as promptly as possible,’ chairman Richard den Drijver said in a statement.
The company’s US focus will now be on brokerage and trading on the Chicago stock exchange, De Drijver said.
Van de Moolen booked a third quarter loss of €5.8m on turnover of €37.4m, largely due to problems in the US.

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